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Does ESG certification add firm value?

This paper examines the impact of environmental, social and governance (ESG) certification on Malaysian firms. The analysis shows that ESG certification lowers a firm's cost of capital, while Tobin's Q increases significantly. These findings, while consistent with existing studies in devel...

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Main Authors: Wong, Woei Chyuan, Batten, Jonathan A., Ahmad, Abd Halim @ Hamilton, Mohamed Arshad, Shamsul Bahrain, Nordin, Sabariah, Abdul Adzis, Azira
Format: Article
Language:English
Published: Elsevier Inc. 2020
Subjects:
HG Finance
Online Access:http://repo.uum.edu.my/27111/1/10.1016%40j.frl.2020.101593.pdf
http://repo.uum.edu.my/27111/
http://doi.org/10.1016/j.frl.2020.101593
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spelling my.uum.repo.271112020-11-04T03:00:32Z http://repo.uum.edu.my/27111/ Does ESG certification add firm value? Wong, Woei Chyuan Batten, Jonathan A. Ahmad, Abd Halim @ Hamilton Mohamed Arshad, Shamsul Bahrain Nordin, Sabariah Abdul Adzis, Azira HG Finance This paper examines the impact of environmental, social and governance (ESG) certification on Malaysian firms. The analysis shows that ESG certification lowers a firm's cost of capital, while Tobin's Q increases significantly. These findings, while consistent with existing studies in developed economies, demonstrate the value enhancement from corporate social responsibility disclosure by firms in emerging and developing nations. Overall, the study confirms the benefits to stakeholders from firms pursuing an ESG agenda. Elsevier Inc. 2020 Article PeerReviewed application/pdf en http://repo.uum.edu.my/27111/1/10.1016%40j.frl.2020.101593.pdf Wong, Woei Chyuan and Batten, Jonathan A. and Ahmad, Abd Halim @ Hamilton and Mohamed Arshad, Shamsul Bahrain and Nordin, Sabariah and Abdul Adzis, Azira (2020) Does ESG certification add firm value? Finance Research Letters. pp. 1-18. ISSN 15446123 http://doi.org/10.1016/j.frl.2020.101593 doi:10.1016/j.frl.2020.101593
institution Universiti Utara Malaysia
building UUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Utara Malaysia
content_source UUM Institutional Repository
url_provider http://repo.uum.edu.my/
language English
topic HG Finance
spellingShingle HG Finance
Wong, Woei Chyuan
Batten, Jonathan A.
Ahmad, Abd Halim @ Hamilton
Mohamed Arshad, Shamsul Bahrain
Nordin, Sabariah
Abdul Adzis, Azira
Does ESG certification add firm value?
description This paper examines the impact of environmental, social and governance (ESG) certification on Malaysian firms. The analysis shows that ESG certification lowers a firm's cost of capital, while Tobin's Q increases significantly. These findings, while consistent with existing studies in developed economies, demonstrate the value enhancement from corporate social responsibility disclosure by firms in emerging and developing nations. Overall, the study confirms the benefits to stakeholders from firms pursuing an ESG agenda.
format Article
author Wong, Woei Chyuan
Batten, Jonathan A.
Ahmad, Abd Halim @ Hamilton
Mohamed Arshad, Shamsul Bahrain
Nordin, Sabariah
Abdul Adzis, Azira
author_facet Wong, Woei Chyuan
Batten, Jonathan A.
Ahmad, Abd Halim @ Hamilton
Mohamed Arshad, Shamsul Bahrain
Nordin, Sabariah
Abdul Adzis, Azira
author_sort Wong, Woei Chyuan
title Does ESG certification add firm value?
title_short Does ESG certification add firm value?
title_full Does ESG certification add firm value?
title_fullStr Does ESG certification add firm value?
title_full_unstemmed Does ESG certification add firm value?
title_sort does esg certification add firm value?
publisher Elsevier Inc.
publishDate 2020
url http://repo.uum.edu.my/27111/1/10.1016%40j.frl.2020.101593.pdf
http://repo.uum.edu.my/27111/
http://doi.org/10.1016/j.frl.2020.101593
_version_ 1684655803071463424
score 13.211869

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